Not Yet: Amazon Denies Rumours on Plans to Accept Bitcoin

An Amazon spokesperson has said that the earlier reports of the company planning to accept Bitcoin and to investigate the issuance of its own token next year are false.

• Previously, a report from City AM, citing Amazon insiders, claimed that the world’s leading online retailer plans on accepting Bitcoin and to investigate issuing its own token in 2022.
• The report went even further, saying that:

This isn’t just going through the motions to set up cryptocurrency payment solutions at some point in the future – this is a fullon, well-discussed, integral part of the future mechanism of how Amazon will work. […] It begins with Bitcoin – this is the key first stage of this crypto project, and the directive is coming from the very top… Jeff Bezos himself.

• Many in the community questioned the authenticity of the report and the trustworthiness of said insiders.
• It didn’t take much for the company to come up with an official statement and, unfortunately, to pronounce the City AM report false.

Notwithstanding our interest in the space, the speculation that has ensued around our specific plans for cryptocurrencies is not true. We remain focused on exploring what this could look like for customers shopping on Amazon.

• In any case, the news hit the market hard as Bitcoin lost around $2,000 in a matter of minutes. At the time of this writing, BTC trades at $38K after reaching an intraday high at around $40,500.